West Ham United's owner was forced yesterday to admit to "significant uncertainty" over its own future, plunging the future of the club into fresh doubt.

Insolvency managers for the collapsed Icelandic bank, Straumur – which owns the Hammers through its parent company, CB Holding – have so far failed to reach agreement with a committee of key creditors over what is owed to whom. Only when that is settled can Straumur executives' plans for a "composition agreement", over how to manage the insolvent bank's assets, even be put to the vote.

Under Icelandic law the courts will liquidate Straumur, holding a firesale of its assets such as West Ham, unless the composition agreement can be concluded before 11 December. And after yesterday's meeting in Reykjavik, that looks more distant than ever.

Straumur has avoided such concerns by portraying its transformation into an asset-management company as effectively a fait accompli. But, worryingly for Hammers fans, Tim Desieno, the legal counsel for one major creditor, Delaware Investments, revealed: "There are significant commercial points with significant disagreement between Straumur and the Informal Creditors' Committee.

"You [the bank's chief executive, Ottar Palsson] say we are coming toward the end of the process but there is a lot to be done to bridge the gaps."

Palsson, who again stressed his belief that creditors will lose out unless they sign up to his plans for Straumur to become an asset-management company, admitted: "We're still insolvent. We're in pretty bad shape. The only option [to get] out of this phase is through a composition or bankruptcy. We believe there are no other real alternatives. That needs to be made absolutely clear."

Andrew Bernhardt, the Straumur executive appointed chairman of West Ham in June when it assumed control of the club following the bankruptcy of its former owner, Bjorgolfur Gudmundsson, said yesterday: "This meeting has no significance in relation to [West Ham]."

However, if Straumur is liquidated the "two-year plan" previously spoken of by Bernhardt will lie in tatters. Consortiums of other banks represented by Barclays and Royal Bank of Scotland hold first charge over West Ham's assets through their loans into the club. Together these are believed to amount to more than £40m.

Scott Duxbury, the club's chief executive, has admitted West Ham's accounts are "a disaster". (Although they cannot be scrutinised since they have not been filed since December 2007 and will be more than a year out of date when finally they are submitted.)

It is clear, however, that if the club continues to be run at a loss without such losses being covered by an owner, West Ham will run a serious risk of being placed into administration by their banking consortiums. Yesterday Bernhardt sought to reassure fans over the club's direction by insisting: "We are working closely with the executive management team of West Ham United and providing support."

Bernhardt confirmed that the management consultant Bob Ellis had been appointed a non-executive director at Upton Park. But he refused yesterday to discuss reports about a £120m bid for the club from the US billionaire Clark Hunt. "I won't comment on any issues of a sale," he said. "We are in a managed work-out and this is one of the assets we are looking to sell in time."

No word from Chambers

Dwain Chambers's rehabilitation appeared complete when he was selected to represent Great Britain at the World Athletics Championships in Berlin next week. But the anti‑doping authorities are taking steps to knock down his reputation as a "whistleblower".

According to a letter UK Sport has sent to UK Athletics and the world governing body, the IAAF, the sprinter has not fulfilled his pledge to provide details of how athletes turn to drugs such as THG, also known as The Clear.

At the most recent meeting between Chambers and UK Sport, on 29 March, Chambers offered "a sworn statement, setting out in accurate and complete detail everything that he knows … including … any involvement in doping by other athletes."

Clearly that kind of information would have been invaluable in the fight against drugs in sport. When talking about doped athletes in his book, Race Against Me, Chambers dropped tantalising hints of his knowledge by talking of the already-banned Kelli White, Chryste Gaines and Alvin Harrison "to name a few".

Coincidentally Chambers' book came out in March, three weeks before his last meeting with UK Sport, when his cooperation would presumably have helped sell copies. Yet, now it is omerta again: despite "numerous requests" the affidavit never came, prompting UK Sport to conclude that "Mr Chambers has at no time worked with UK Sport in any capacity." Now the dope cheats Chambers hinted about really are in The Clear. Chambers' lawyer, Nick Collins, was not returning calls yesterday.

AFC set for sellout crowd

Luton Town play AFC Wimbledon at Kingsmeadow tomorrow. The last time Wimbledon hosted Luton (let's set aside MK Dons for now) was in the top flight in September 1991. The gate at Selhurst Park was a little over 3,000. Tomorrow's game, the Dons' first match in the Blue Square Premier, promises to sell out – which means more than 4,700 through the doors, proving it's not what you play but how you play it.

Mills keeps busy

Sir Keith Mills is undertaking a high-profile legal action against Coutts bank in the midst of his duties as vice-chairman of London 2012, a board member of the England 2018 World Cup bid and a non-executive director at Tottenham Hotspur. But that has not prevented sport's busiest man from resurrecting his Team Origin America's Cup syndicate, with a new commercial programme seeking blue-chip sponsors set to be launched next month. Digger wondered if Mills might approach the Queen's bank, despite running an advertising campaign last month that complained about advice he received from Coutts on investing in AIG bonds. "Well it would settle my claim at a stroke," he laughed.